Aviva cuts final and regular with-profit bonus rates

The firm has cut the final rates on its CGNU, CULAC, Aviva Life and Pensions (L&P) and Provident Mutual funds but says it has also cut market value reductions (MVRs) on the vehicles to negate the change. In the six months to July 2009, the insurer says the CGNU and CULAC funds declined 3.5%, Aviva L&P fell 4.1% and the Provident Mutual fund decreased by 0.8%. Regular bonus rates on its conventional, Aviva L&P and CU unitised policies have been held but rates on CGNU unitised policies have been reduced by 0.75% on life policies and 0.5% on pension policies. "These changes are part o...